Settlement order does not constitute admissible evidence in unrelated proceedings and does not extinguish third-party rights.

A settlement order under the Regulations is not admissible as evidence in proceedings about alleged defaults not covered by the order and does not affect third-party rights arising from the alleged default. Where an applicant who obtained a settlement order is a noticee with others, observations may be made about the applicant only as necessary to prove another's act, and such observations are subject to the settlement order unless revoked; observations in a settlement order are not admissible per se against other persons.

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